There are effects of snow days that are obvious, like parents scrambling for childcare and the need to make up days later in the year. One effect that isn’t so obvious is the effect that schools shutting down might have on dairy companies. Yes, those little milk cartons add up. [More]

The Fed voted Tuesday to reinvest expiring mortgage-backed securities by putting the money into longer-term Treasuries. That, and the decision to keep rates at 0 to 1/4 percent, should keep mortgage rates low. Here’s the full statement following their coffee klatsch: